Bill D.
Solo 401K and employees
Hello BP Community,I to move my retirement accounts into a Solo 401K and I understand that you can not have full time employees and still qualify for the Solo 401K, so I have a couple of questions about this. My busin...
Frank Adams
Help please in the Greater Cincinnati area
I've got a bit of a situation. My mother in law (turns 88 next week) was recently put into an assisted living place by my sister in law. The problem is that "Mom" is a bit more capable than "sis" believes, she was jus...
Joe P.
How much should I spend on tax planning?
I own a business flipping vacant land properties so according to the irs I am a real estate dealer and my income is taxed as ordinary income which includes the full 15% self employment tax. I recently found out about...
Matthew Ficorilli
Capital gains tax question
I have a question about wholesaling. If I structure my deal with an assignee or do a double close on a deal, is there any way that I have to pay a capital gains tax? Or is it straight income tax? I have an LLC set ...
Michael Plaks
Crazy technicalities: how the IRS defines your age. Spoiler: it depends.
Specific technical issue that triggered this post. When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18. But what exactly happens in the year the child ...
Mike Lynch
What to do with new commercial purchase?
HiI pulled the trigger, a couple of months ago, on a 2000 sq ft building in a very busy road frontage location in Ocean Isle Beach, NC. We have no mortgage on the building, as we flipped a large waterfront home for th...
Gary Michalske
Options to Avoid Capital Gain Tax
Hi BP-er’s,I have a tax strategy question about a deal I have the inside track on. My plan is to purchase this deal for $200K cash and wholesale it.This situation involves a 101 year old elderly family member that ow...
Jacob R.
Seller Financing Proposal
Hi everyone, My wife and I are looking to buy our first property and would like to get some advice for preparing a seller financing offer. We currently live in Illinois about 20 minutes east of St. Louis and are movin...
Syed A.
Moving Rental Properties to Corporation
Hello BP Folks,
I am new to the forum and need some advice at this juncture. I am computer engineer by profession and started the real estate investment around 2 years back and purchased 8 rental properties m...
Mimi H.
Solo 401k + Business Structuring
Hi Everyone,I'm presuming that I'm not alone in this and would love to hear how others deal with this situation:1) employee at a company that offers a small matching on 401k2) owner of properties with cash flowWhen I ...